Real estate investing Resources in Quakertown and Surrounding Areas

So you wanna get started investing in Quakertown and Surrounding Areas and you’re checking things out, eh?

Good for you. Always do your homework and you won’t get schooled.

Here’s some great tools that we’ve found and we use from time to time and great real estate investing resources in Quakertown and Surrounding Areas for investors here locally to tap into for quick research on your investment deals.

The best thing is most of these sites below are completely free!

Here’s a few sites you should get to know:

1. Zillow

Zillow is the biggest, baddest real estate website on the block. They are building data on real estate wealth like few other sites.

The CEO of Zillow, Spencer Rascoff, said their company’s best asset was their “living database of all homes”.

The Zestimate tool is off, as a lot of folks have noted. It’s fun to see what the computer calculates, but you still gotta know how to analyze the comps and evaluate the market for yourself.

Spend a lot of time on Zillow and get to know the intimate details of each property sold in your target Quakertown and Surrounding Areas neighborhoods. Really try to identify the psychology of the prices, and seek to understand why the seller and buyer picked that point to settle.

Remember, each sale is like a tiny piece of a moving puzzle that makes up the whole market.

Zillow is an awesome tool for investors to get to know their markets.

2. Craiglist

Craigslist is an awesome site. There’s huge deals there, if you spend the time on the site. People write terrible ads for great properties. Happens every hour of every day across . Sometimes the best properties only get one terrible ad. So you’ve got to scour.

3. LoopNet

LoopNet is the granddaddy of commercial real estate investing.

You wanna sell a gigantic freakin building to institutional investors, this is the site you want to list it on.

Sometimes there are great deals on LoopNet, but you’re competing with every other investor to find them. If you are a Grade-A investor working with a top broker, you’ve got a chance to win the bid and seal the deal. This is not the site for rookies.

LoopNet is a great place to learn about the market in Quakertown and Surrounding Areas and see how the major money is moving. You’ll be surprised what you can learn, so start searching through the properties for sale and watching where they close.

4. Auction.com

Just like its name suggests, Auction.com is a big clearinghouse of auctions, — foreclosures, REOs, short sales, distressed properties, land, new construction — you name it, they probably sell it.

Definitely check out the auction calendar, and make a trip to visit some Quakertown and Surrounding Areas auctions. You never know who you might meet at an auction – maybe your future business partner?

5. Realtor.com

The largest place to search the MLS (multiple listing service), Realtor.com is sometimes confusing and often doesn’t seem consistent with what data it displays.

But it’s got some neat search alerts and other tools that help you get alerted when a broker in your neighborhood has added a listing. If you’re serious about investing, you probably want to form a good relationship with an excellent Realtor, rather than just the website.

6. Walkscore

Most investors overlook Walkscore.com – a big mistake.

Walkscore tells you a ton about any given address. It tells you how a potential renter or buyer will evaluate it – what’s nearby and how long it takes to access.

It’s also a fantastic tool to target areas that are underpriced for their amenities. If an area has a really high walkscore and low prices, chances are good that prices will rise in the next few years. There’s big exceptions – but walkability is a really key factor in Quakertown and Surrounding Areas investment.

Those tools will help you to understand the Quakertown and Surrounding Areas area market, if you take the time to use them. Do your homework, and understand the market before you start dumping your hard-earned money into a property.

You can always give us a call 610-200-5545 – we love to partner up with investors, and we’ve got great terms.

If you’re looking to access to local Quakertown and Surrounding Areas investment properties, great!

Join our Preferred Quakertown and Surrounding Areas Investment
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How to find foreclosures in Quakertown and Surrounding Areas PA

There’s a lot of competition to find great deals on local Quakertown and Surrounding Areas PA foreclosure properties.

Finding them is only one part of the process – you also need to know how to capture them.

Here are a few secrets from the pros that we’ve used with great success on how to find great foreclosure deals in Quakertown and Surrounding Areas.

1. Comb through the same listings everyone uses.

There’s a lot of ways to access local foreclosure data in Quakertown and Surrounding Areas and your surrounding area – and foreclosure.com does a relatively good job of combing through default notices, bankruptcies, tax sales and distressed asset lists.  The main drawback with online resources like that is there tends to be a lag time in the time they get the info online… so the data can be a bit old sometimes.

2. Search the lesser-known publications sometimes used by smaller lenders.

Most of the publications in Quakertown and Surrounding Areas are indexed and captured online, but every once in a while a lender will mistakenly only publish in a smaller circulation if they think it meets the legal requirements.  These notices are the notices of default that lenders are legally required to publish in public record. Those are one of the first places you can find out about a foreclosure.

3. Establish great working relationships with at least one broker.

When you’re starting out as an investor in Quakertown and Surrounding Areas PA, you’d better not burn any bridges – especially with the power real estate brokers in this town.

The best of the bunch (and that’s a very short list) work with dozens of investors, and they know exactly who is looking to buy what property – they’ll call the ones that they know will close the deal without hassles to them. Once you’re off the short list of folks who get the calls, you probably won’t get back on it. There are too many credible investors looking for great deals for them to bother dealing with rookie mistakes. Interview a few, and make it your intention to give all your business to one person.

Make it clear what that broker must do to earn and keep your business, play fair and never compromise your integrity. If you have to fire that broker, do so with grace and it will be a learning experience for everyone. But don’t ever fire a pro on a whim. Be incredibly loyal and it will come back to you in countless ways over the years.

4. Find people before their properties are in foreclosure and help them before a default notice gets published.

This one is probably the hardest and most time-consuming method, but it is one of the only ways to avoid the competition of lots of speculators that descend upon any published foreclosure like vultures to a fresh kill. Speaking of which, you don’t win in this business by treating people like roadkill. Remember that your reputation is everything, and act with integrity.

People facing foreclosure are in very difficult circumstances, and they need help – not predatory behavior. When we’re able to help people negotiate short sales, lease options and other complex transactions, everyone wins – and no one loses. Behaving with integrity helps us to get amazing referrals and special deals that never hit the open market. People remember what we’ve done for them, and when their friends and family need similar help they send them to us.

5. Find niche specialists like our firm who know how to find foreclosures in Quakertown and Surrounding Areas for you.

We’re not real estate brokers, so we don’t sell information or give away crummy lists.

The properties we advertise are our own investments, so it’s a short but exclusive list.

We’re focused on building a small, tight network of long-term investors who want to purchase credible real estate investments in Quakertown and Surrounding Areas. We find deep discounts and pass them along – while keeping a reasonable return that allows us to stay in business.

Sign up now, and we’ll send you great deals as we lock them down – we don’t spam or sell your information to anyone, and you can cancel anytime.

Give us a call anytime 610-200-5545 – Let’s Discuss Your Investment Goals

We get new deals every day, so hurry and join our Email Alerts List! >>

Get started now.

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How to bid on a short sale property

Short sale properties can be a great source of income for investors, and a great deal for home buyers.

It’s important to keep in mind that a short sale is one where the bank has approved a loss on a current loan. They’re losing money, so they want to unload.

Generally the current owner is in a rough time, or wouldn’t be facing the loss of the property. Difficult times mean tremendous amounts of stress and emotional turmoil.

Managing relationships is always the key to any negotiation.

For the bank, a short sale is an unemotional transaction. An owner may be letting go of a property with great emotional significance.

You’ll have to take different approaches with every party to a short sale transaction to get the best result.

Data is on your side. Look up comps to get an accurate picture of the market, and seek out justifications for your offer prior to submitting a written bid.

In a short sale, you have to get agreement from the owner and the bank(s) involved on the purchase price and the terms.

Getting written permission from the owner to discuss terms with the bank can be really helpful, but check with a good lawyer to make sure you have the right documents before you ask the seller to sign anything that might violate law.

Your relationship skills are super important during this process. The bank will often require days, even weeks, to respond to offers and move forward. Often they request additional BPOs (Broker Price Opinions) or modify appraisals, and they sometimes like to involve different negotiators.

It can be intensely frustrating, so prepare yourself and don’t stress.

Get fully approved for any loan you plan to take long before you make an offer. Make sure your lender can close at the drop of a hat, because once the approval comes for the short sale transaction you need to be ready for escrow.

We secure properties via short sale, and we work with many investors and buyers who are looking for great deals on properties in the Quakertown and Surrounding Areas area.

Give us a call 610-200-5545 or get in touch anytime to find out how we can help you!

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Foreclosure property listings in Quakertown and Surrounding Areas – what’s real and what’s not?

There’s a ton of information on finding foreclosures in Quakertown and Surrounding Areas, and lots of services that will charge you for access to their data. In fact, we have our own foreclosure property listings in Quakertown and Surrounding Areas right here. Join our Foreclosure Property Alert List here >>

But…

How do you tell the difference between credible information and useless marketing gimmicks with local Foreclosure properties?

Some services – like foreclosure.com – are doing a great job consolidating information from many sources. Investors like us use them all the time, because it’s cheaper and faster to use their information rather than combing through the classifieds ourselves. But the major drawback with online services like that is the information in them can be a tad old.

You may be looking at foreclosures that other investors who got their info direct from the courthouse got weeks or months ago.

We also use other sources too.

Lots of real estate agents who “specialize in foreclosures” publish their own lists, but these are often just marketing gimmicks to trade your contact info for stale goods.

There’s no harm in signing up for free lists – if the info is no good, just unsubscribe.

You’ll probably spend a lot of time getting excited about properties that are already sold or no longer available, but that’s part of the learning curve when you’re just starting out in the foreclosure market.

When you’re evaluating a new list to see if it’s worthwhile, compare the properties on the list to what’s published in other lists.

If you consistently don’t see any new or exclusive information on the list that you can’t get elsewhere, don’t use it.

We’re not real estate brokers, so we don’t sell information or give away crummy lists.

The properties we advertise are our own investments that we’ve picked up or have on contract, so it’s a short but exclusive list.

We’ve built a small, tight network of long-term investors who want to purchase credible investment properties in Quakertown and Surrounding Areas .

We find deep discounts and pass them along – while keeping a reasonable return that allows us to stay in business.

When we lock up a great deal on a cheap foreclosure (or non foreclosure – distressed house), we put it out to our list and sell it fast.

If you’re ready to buy and looking for cheap property, sign up – you’ll only hear from us with exclusive deals in Quakertown and Surrounding Areas you won’t find anywhere else.

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Investment Property Tax Deductions List for Quakertown and Surrounding Areas

Uncle Sam gives, and Uncle Sam takes away.

But in the case of buying local Quakertown and Surrounding Areas investment properties… you can earn investment property tax deductions for your Quakertown and Surrounding Areas properties.

For real estate investors, the United States provides the opportunity to earn a living purchasing investment properties… and holding those properties as investments, and of course the income from those properties is taxed.

But many new investors often overlook tax deductions that could have an impact on their bottom line. Today, we’re going to take a look that Quakertown and Surrounding Areas real estate investors can take advantage of.

Income Sources You Can Potentially Deduct

  • Repairs and expenses paid by rental tenants are considered income. This could include an emergency water heater repair that tenant took care of on his own. These repairs can be deducted.
  • In some cases, tenants will trade repairs and upgrades to a rental unit for a reduction of rent. These services can be deducted, so long as they’re claimed as income, and must be charged at fair market value. You cannot work out a deal with your tenant to fix a light switch for three months rent, then deduct that ludicrous “income” on your tax return.

Security Deposits

A security deposit is not taxable, based on the thought that your intent is to return this deposit at the end of a lease term. However, if a tenant breaks the lease and forfeits his or her deposit, you can claim the security deposit as income, so long as the deposit is used to make repairs.

These repairs are deductible expenses.

Make sure with your accountant or local property manager that they’re handing your security deposit accounting correctly so you’re not paying income tax on security deposits that you’ll be turning right around and paying back when a tenant leave.

Other Common Investment Property Tax Deductions

  • The portion of your mortgage that is directed towards interest is 100% tax-deductible. Your mortgage lender will provide you a form in January stating this total.
  • Travel to and from the property to make improvements, show the property, or collect rent are considered work expenses, and deductible.
  • Certain deductible expenses that investment property owners take advantage of include taxes, insurance, tax return preparation costs, lawn & garden care, losses resulting from theft or “acts of god” (floods, earthquakes, and other disasters), legal and professional services.
  • Depreciation on the value of the property is deductible. This can be complicated to calculate, and it’s recommended to speak with a local Quakertown and Surrounding Areas accountant.
  • Your home office, if used to run your real estate investment business, can help generate tax deductions as well as long as the home office meets the minimum requirements (consult your tax advisor)

By taking advantage of all applicable tax deductions, investment property owners can increase their revenue and reduce their tax liability, opening the possibility to purchase additional properties. There may be other ways to decrease your tax liability. Talk to your financial advisor or certified public accountant, as they typically keep abreast of new tax deductions that Quakertown and Surrounding Areas investment property owners can claim.

 

Looking To Pick Up Some Local Quakertown and Surrounding Areas Properties? Call at 610-200-5545
or, join our Local Investment Property Buyers List >>

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Tips on Buying Quakertown and Surrounding Areas Real Estate with your IRA

While most people understand that real estate is an investment, many people are taking advantage of the qualified retirement accounts to purchase real estate as an appreciating or revenue-generating instrument like IRAs.

It’s really important to understand the tax implications, legal ramifications, and various other intricacies of purchasing Quakertown and Surrounding Areas real estate within your IRA.

So, lets dive into some tips on buying Quakertown and Surrounding Areas real estate with your IRA!

Tips on Buying Quakertown and Surrounding Areas Real Estate With Your IRA

If you don’t have a self-directed type IRA… first off… you’ll need to connect with your trusted financial advisor to find a reputable and low fee self-directed IRA. Or, connect with us and we can direct you to some very good self-directed IRA companies we’ve worked with in the past.

Open a Self-Directed IRA

The first step for purchasing investment properties in Quakertown and Surrounding Areas within your IRA is to open a “self-directed” IRA. You can do this by visiting a qualified financial advisor or other trusted fiduciary to act as the IRA custodian. A fee-only financial advisor can help you set up this account with minimal hassle, while a commission-based financial advisor may attempt to steer you clear of purchasing tangible assets within your IRA (he or she won’t earn much on the investment).

Types of Properties You Can Buy With Your IRA and Rules

You can own a wide variety of properties within your IRA, including residential, commercial, and industrial structures, as well as unused land. Many savvy investors choose to purchase parking lots, storage unit facilities, and other types of property that require little maintenance, but generate steady income.

Your IRA cannot own any home where you live or vacation. Legally, you aren’t even allowed to spend one night in the property. You cannot avoid this restriction by “renting” the property from your IRA, or renting to your spouse, children, grandchildren, parents, or grandparents, nor can you use an IRA to purchase property from close family. You could, however, rent to property to a sibling, cousin, or friend. A solution that many investors implement is to purchase a home for their IRA, rent it out for income until retirement, then assume residence upon retirement.

How Does Income Work With Real Estate In An IRA?

The income generated in your IRA may not be used for your “personal current benefit.” This means that all income generated by the property must remain within the IRA until you retire. Selling the property will require you to leave all profits within your IRA. Also, property taxes, insurance, improvements, and other costs associated with the property must be paid by the IRA. Failure to comply with these regulations could disqualify your IRA, subjecting you to income taxes on the entire value of the property, plus a 10% early distribution penalty.

It’s important the all distribution rules associated with an IRA (or Roth IRA) including taxation, required minimum distributions, beneficiaries, and other factors do not change when using a self-directed IRA to purchase property. There can be a huge upside to real estate in your IRA, but it’s best to know exactly what’s in store.

Learn About Our Properties In Quakertown and Surrounding Areas Call Us 610-200-5545
or join our Investment Property Buyers List Today! >>

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